MOBILE phone retailer Carphone Warehouse, which recently opened a store on the Townsmoor estate in Blackburn, is to float on the stock market next month.

The company, which has over 800 stores in 14 countries across Europe, will offer around 20 per cent of the company's share capital for sale.

Reports have suggested the company could be valued at more than £1 billion.

The float will make millionaires out of managing director Charles Dunstone and chief executive David Ross who started the company 11 years ago.